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White House Moves To Slash US Credit Card Fees

By  |  February 1, 2023

President Joe Biden on Wednesday unveiled fresh efforts to slash credit card late fees and drive down the prices that Apple and Google parent Alphabet  charge on mobile app stores.

The move is part of a larger policy drive to promote competition in consumer markets, officials said.

Speaking at the White House, Biden also called on lawmakers to ban “junk fees” he said jacked up costs for consumer services such as accommodation, concert tickets, mobile plans and air travel, in which officials said air carriers can charge family members extra to be seated next to young children.

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“The bottom line is these unfair fees add up. It’s a basic question of fairness,” Biden told reporters.

Biden has been beating the drum on inflation, criticizing Republicans who now control the House of Representatives for backing tax measures that he said would benefit the wealthy at the expense of middle-class taxpayers.

Biden, who is expected to announce a bid for re-election in the coming weeks, has also been slamming Republicans for their refusal to approve an increase in the US debt ceiling unless there is a deal on spending cuts.